J. Crew Group Inc. has reported revenue for the second quarter of $167.9 million compared to $170.2 million last year. The quarter ended Aug. 4.
Net sales in J. Crew’s Direct business fell to $45.2 million from $50.7 million one year ago.
Retail store sales rose 4.6% to $91.2 million versus $87.2 million last year. Comparable store sales declined 12.1% primarily reflecting the weak retail climate.
Earnings before interest, taxes, depreciation and amortization were $2.4 million compared to $6.5 million.
“We’re staying focused on our key priorities to strengthen the business over the long-term, despite the difficult market,” CEO Mark Sarvary said in a statement. “We are taking steps to improve our product offerings while at the same time executing systems enhancements and cost reduction programs. We’re also committed to controlling inventory levels.”
As of Aug. 4, the company operated 113 retail stores, the J. Crew catalog business, http://www.jcrew.com, and 41 factory outlet stores.
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